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CoreLogic, which last year fought off a proxy battle where activist investors offered $66 a share, on Feb. 4 announced it had accepted an $80 a share offer from Stone Point Capital and Insight Partners.
CoStar’s proposed bid is $95.76 a share, or a 16% premium over Friday’s closing price. CoreLogic shares climbed 7.9% to $88.46 and a $6.5 billion market cap, indicating some skepticism about the proposed bid.
CoStar said it “immediately” wants to talk with CoreLogic directors and advisers.
The deal would combine CoreLogic, one of the largest residential real-estate data companies, with CoStar, among the biggest providers of commercial real-estate information and analytics.
Shares of Washington D.C.-based CoStar (Nasdaq: CSGP) dropped 4.1% to $900.34 and a $35.5 billion market cap.